how to set up the Quickbooks loan manager

1
What is Quickbooks Loan Manager and how to set it
up?

• QuickBooks Desktop Loan Manager allows businesses
  to track unpaid loans and adjust monthly
  installments if necessary. QuickBooks Loan
  Manager is an essential tool for any workplace
  around the globe. This divides the total loan
  amount into principal and interest so that the
  loan repayment is on time. You can add or remove
  loans and set up loan payments.

2
How to set up the Quickbooks Loan Manager

• These are the accounts you need to create to set
  up Loan Manager in QuickBooks.
• Liability Account - To keep the loan in the
  future while
• selecting an account.
• Open Charts of Accounts by going to the Lists
  menu.
• Select New from the Account dropdown.
• Click on loan, then choose to continue.
• Complete the Account Name field and click on
  Enter Open Balance.
• Click on OK, then Save and Close.

3
How you can track loans using Quickbooks Loan
Manager

• Click on the Banking Menu and select Loan
  Manager.
• Select Add Loan to enter the following
  information about the loan.
• Account Name This is the same account you
  created using the steps above.
• Lender The Vendor to whom the payments will be
  made.
• Origination Day Date when the loan is processed.
• Original Amount The loan's total initial amount.
• Term The period of time that both parties agree
  to in order to repay the loan entirely.

4
Thank You